If we vote for Brexit what happens

danothy

TrickyTree83 wrote: »

Assuming we do lose the passporting system. The damage will be two fold, in the UK and in the EU.

At the moment there are certain German and Italian bankers that can ill afford this to happen. It's certainly a political and financial hot potatoe. I wouldn't therefore believe that we would lose financial passporting entirely.

I, on the other hand would think that if we're not in the EU then passporting ends. Why would they agree to Euro-clearing services being performed by a country outside of the union? Why would they allow passporting for other banking services from a country outside of the union? Why would they allow passporting when the banks who rely on it will just up-sticks to the mainland and take the tax they pay with them if they don't allow passporting? We've gifted them the perfect opportunity to end passporting by leaving, and the influx of banks and associated tax base to Paris will swing the political mood back to the mainstream from Le Pen, which is definitely something the EU wants.

mwpt

michaels wrote: »

AFAIK we are currently still members of the EU and have not even invoked article 50 let alone actually left so it would seem a bit odd (as in agianst the rules) to restrict the UK from anything at this point.

Or is it that the EU rules only apply when it suits the French and Germans?

Why don't you read the article? Or do you guys think every single EU citizen (apart from the Brits of course) are in cahoots on one huuuuuuuuuuge conspiracy theory?

cells

The EU funding system was quite unfair to the UK. If farming subsidies are to be a big portion of the funding then a component of the funding should have been based on land area relative to GDP. That would have meant a much smaller net benefit to France and a much bigger net benefit to the UK. Maybe so France contributed 5 billion more germany 3 billion more and the UK 8 billion less.

TrickyTree83

mwpt wrote: »

Why don't you read the article? Or do you guys think every single EU citizen (apart from the Brits of course) are in cahoots on one huuuuuuuuuuge conspiracy theory?

Michaels is absolutely right.

At the moment we're still paying members. Therefore we should be represented and should be considered for EU funding. We should be treated as equal partners.

This process of cutting us out and banning us from EU meetings should only take place after we have invoked article 50. After all there is a chance that repealing the European Communities act will require an act of parliament and that they will vote it down. Then we won't be invoking it will we and we've been unfairly treated by other member states.

And quite frankly I'd take them to task over that.

mwpt

michaels wrote: »

Our (former*) Primeminister said both that Brexit was an existential threat to the UK and that it might lead to WW3.

Btw, why do you continue to misrepresent the truth? I know I shouldn't care so much but it drives me nuts when there are so many real and valid points to discuss but then someone just resorts to flat out lies.

mayonnaise

michaels wrote: »

Our (former*) Primeminister said both that Brexit was an existential threat to the UK and that it might lead to WW3.

No, he never said that.
You can stop project disinformation now, apparently your side has 'won'.

TrickyTree83

danothy wrote: »

I, on the other hand would think that if we're not in the EU then passporting ends. Why would they agree to Euro-clearing services being performed by a country outside of the union? Why would they allow passporting for other banking services from a country outside of the union? Why would they allow passporting when the banks who rely on it will just up-sticks to the mainland and take the tax they pay with them if they don't allow passporting? We've gifted them the perfect opportunity to end passporting by leaving, and the influx of banks and associated tax base to Paris will swing the political mood back to the mainstream from Le Pen, which is definitely something the EU wants.

Under circumstances which are not quite as dire as they are for the Eurozone in particular I would agree with you. However reality being what it is it would appear they are on the edge right now, unplugging the UK financial system on which some of these Euro institutions rely (19% of DB's income is from the UK) would tip them over the edge and cause another Eurozone financial crisis.

baza52

mayonnaise wrote: »

No, he never said that.
You can stop project disinformation now, apparently your side has 'won'.

http://www.mirror.co.uk/news/uk-news/government-made-no-plans-brexit-7930947

The government has no contingency plans for Brexit despite David Cameron warning it could trigger World War 3, Downing Street has admitted.

Ronaldo_Mconaldo

What happens to the beef mountains and wine lakes? That's what I want to know. Do we get to take our share home?

Crashy_Time

EU drone just on TV saying that German banks are fine and that Italian banking crisis is contained.